Olney, Throckmorton County, Texas Property Taxes

Name: Property Tax Bills Across Olney, Throckmorton County, Texas
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Olney, TX effective property tax rate: 2.00%, significantly higher than the national median of 1.02%, but lower than the Texas state median of 1.67%.
Median Olney, TX home value: $69,080
Median annual Olney, TX tax bill: $1,124, $1,276 lower than the national median property tax bill of $2,400.

How are property taxes in Throckmorton County calculated?

Property taxes in Olney, TX are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Olney’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Olney, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Olney, Throckmorton County, Texas Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.29%

Estimate Property Tax Bill

$1,414

$1,312

Ownwell’s Olney Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Olney with just two data points. By entering your property's estimated assessed value, our calculator applies Olney’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Throckmorton. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Olney, Throckmorton County, Texas

Local government entities determine tax rates, which can differ significantly within a state. Annually, each county estimates its budgetary needs to provide essential services and divides this amount by the total value of all taxable properties within its jurisdiction. This calculation determines the property tax rate. Although votes and legislative measures play a role in establishing these rates and budgets, this is the fundamental process followed each year.

For instance, Olney in Throckmorton County, Texas, has an effective property tax rate that can be compared to other cities within Texas and the national median. Texas has a higher median property tax rate than the national average of 1.02%. This means property owners in Texas, including those in Olney, often face higher property tax bills compared to many other states. Understanding these differences is crucial for property owners seeking to manage their tax liabilities effectively. By staying informed, property owners can make strategic decisions regarding property tax appeals and exemptions, potentially reducing their tax burden.

Property Tax Rates Across Olney, Throckmorton County, Texas

Source: Ownwell

1.29%

1.49%

1.69%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Olney Tax Rate

1.29%

Median Effective Throckmorton County Tax Rate

1.66%

Median Effective Texas Tax Rate

1.48%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Olney, Throckmorton County, Texas

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
76374	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Olney, Throckmorton County, Texas

When examining property taxes in Olney, TX, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Throckmorton County Appraisal District estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill. In Throckmorton County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Olney. For example, the median home price in Olney is $69,080, with tax bills ranging significantly across the county.

Property Tax Assessment Values Across Olney, Throckmorton County, Texas

Source: Ownwell

$58,560

$73,735

$88,910

Median Olney Market Value

$109,610

Median Throckmorton County Market Value

$63,070

Median Texas Market Value

$258,851

Median United States Market Value

$235,294

Property Tax Assessment Values Across Olney, Throckmorton County, Texas

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
76374	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Olney, Throckmorton County, Texas

In Olney, located in Throckmorton County, TX, property tax bills are calculated based on the assessed value of a home. This assessed value is determined by the local tax assessor and reflects the market value of the property. The property tax rate is then applied to this assessed value to determine the tax bill. In Olney, homeowners face a median property tax bill that is notably lower than the national median of $2,400. However, homeowners in the 75th percentile may see bills as high as $1,409, while those in the 90th percentile could pay up to $2,088. These figures highlight the variation in tax burdens based on property values and local tax rates. For homeowners looking to reduce their property tax bills, Ownwell offers valuable assistance. By providing expert property tax appeal and exemption services, Ownwell can help ensure that homeowners are not overpaying on their property taxes, potentially leading to significant savings.

Property Tax Bills Across Olney, Throckmorton County, Texas

Source: Ownwell

$775

$960

$1,145

Median Olney Tax Bill

$1,124

Median Throckmorton County Tax Bill

$1,008

Median Texas Tax Bill

$3,441

Median United States Tax Bill

$2,400

Property Tax Bills Across Olney, Throckmorton County, Texas

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
76374	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Don't miss the deadline to protest!

Dates
Appeal Deadline	May 15

Links
Throckmorton Appraisal District
Website	esearch.throckmortoncad.org